BELIZE: ECONOMIC SUBSTANCE LEGISLATION

On 22nd November, the Lexology website carried an article from Morgan & Morgan on draft economic substance regulations, with the issue of final Guidelines on the matter is expected sometime before the end of this year.  Accordingly, International Business Companies (IBC) engaged on what is defined as “relevant activities” will need to meet adequate economic substance in Belize, and an IBC carrying on any relevant activity is thus classified as an Included Entity.  But those that are not Included Entities (aka Non-Included Entities) do not require substantial economic presence in Belize.  The article lists what are classed as Included Entities.  It also deals with the status of Pure Equity Holding Companies, other holding companies and IBC carrying on relevant activity with outside control, management & tax residence.

https://www.lexology.com/library/detail.aspx?g=410737e1-2a2c-4608-b1de-01dae545c6b5

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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